In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

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Should Govt Regulate Executive Pay?

Every couple of weeks, the Economist conducts an on-line debate between two economists over a timely public policy issue. This week’s debate features yours truly, debating Professor Wayne Guay of the Wharton School. The question being debated: should government regulate the pay of corporate executives?

You probably won’t be surprised to learn I take the position that government should generally stay out of regulating executive pay (or any pay). To see my argument, just follow the link.